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If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
If it ws done properly, the mortgage is a lien against the real estate. If the mortgage is not paid by the estate then the holder of the mortgage can foreclose and take possession of the property. You should consult with an attorney who can review the situation and explain your options.
What else can I help you with?
If your husband has a reverse mortgage and you are not 62 what happens to you with the house if he dies?
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
What happens if the mortgagor dies before paying off the mortgage?
First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.
What happens if a co-signer on a mortgage dies?
If a co-signer on a mortgage dies, the responsibility for the mortgage typically falls solely on the remaining borrower. The lender may require the remaining borrower to refinance the loan in their name or find a new co-signer. If the mortgage is not paid, the lender could foreclose on the property.
If my husband dies what happens to the house I'm not on the mortgage?
If your husband has a will then his property is distributed accordingly, if he not have a will then the distribution of property is determined by a probate court.
What happens if seller dies who gets the house?
In the UK the seller is the owner of the house together with any mortgage lender, the proportion of ownership depends on the amount outstanding on the mortgage. If the seller dies then the 'estate' will own the sellers proportion of the house. The estate will pass on to the next of kin or anyone nominated in the sellers will.
When mortgage holders die what are mine and the mortgage company rights?
If a mortgage holder (mortgagee) dies the rights under the mortgage pass to her heirs. If a mortgagor (borrower) dies the mortgage company has a lien on real estate that still must be paid.
If one co-mortgagor dies does the other have to pay the mortgage?
Yes. The mortgage must be paid or the lender will take possession by foreclosure unless the decedent had assets that will pay off the mortgage or some form of mortgage insurance.
What happens if the person filing for foreclosure dies?
A person doesn't "file for foreclosure". A bank or other lender takes possession of property by foreclosure procedure after the owner (mortgagor) of the property has defaulted on the mortgage. The procedure varies in different states. If the mortgagor dies during the foreclosure proceeding the lender can continue the foreclosure process against the estate. The death of the mortgagor may delay the proceedings until the heirs have been given notice of the foreclosure, depending on how far along the foreclosure has progressed. If the mortgagee (lender) dies during the foreclosure proceeding their estate representative can continue the foreclosure once appointed by the court.
What happens to a loan if the seller dies?
If a seller dies, a loan might still be owed by the family of the person that died. In some cases, the loan would be forgiven if the seller died or passed away.
If your husband has a reverse mortgage and you are not 62 what happens to you with the house if he dies?
The answer is when he dies the reverse mortgage company will settle up the loan, so you will have to either sell the house or refinance with a new mortgage.
You on the deed but not the mortgage. When partner dies what happens You are on joint tenancy with him on the deed?
You own the land subject to the mortgage.
What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
What happens if Seller dies after signing contract?
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.
What happens if the mortgagor dies before paying off the mortgage?
First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.First, the mortgagor's estate must be probated in order for title to their real estate to pass to the heirs legally. Now to answer your question: If the mortgage isn't paid the bank will take possession of the property by foreclosure. If the heirs want to keep the property they must continue to pay the mortgage. Some mortgages contain provisions whereby heirs can assume the mortgage. You need to consult with an attorney who specializes in probate who can review the situation and explain your rights and options.You should check with the bank to determine if the mortgagor had mortgage insurance.
What happens when a co-signer on mortgage dies would the estate for the co-signer have to pay off the mortgage?
if your on the title be prepared to take over the payments.
